NGEx Increases Private Placement to $7.70 Million

VANCOUVER, BRITISH COLUMBIA--(Marketwire -
Dec. 4, 2009) - NGEx Resources Inc. (TSX:NGQ) reports
that it has increased the private placement announced on December 1, 2009 from
$7 million to $7.70 million.

The Company will now
sell, on a non-brokered, private placement basis, an aggregate of up to 11
million common shares at a price of Cdn $0.70 per share for gross proceeds of
up to Cdn $7.70 million. Shares issued pursuant to the private placement will
be subject to a four month hold period. A 5% finder's may be payable on a
portion or all of the private placement. Net proceeds of the private placement
will be used towards ongoing exploration programs as well as for general
working capital purposes. The private placement is subject to regulatory
approval.